GE Vernova Inc. $GEV Holdings Decreased by GPS Wealth Strategies Group LLC

Key Points

• GPS Wealth Strategies Group LLC cut its GE Vernova stake by 98.4% in the fourth quarter, leaving it with just 224 shares worth about $146,000.
• Wall Street remains bullish on GE Vernova, with multiple analysts raising price targets; the stock now has a consensus Moderate Buy rating and an average target of $1,090.76.
• GE Vernova posted strong quarterly results, including EPS of $17.44 and revenue of $9.34 billion, and it also announced a quarterly dividend of $0.50 per share.

GPS Wealth Strategies Group LLC reduced its stake in shares of GE Vernova Inc. (NYSE:GEV - Free Report) by 98.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 224 shares of the company's stock after selling 13,826 shares during the quarter. GPS Wealth Strategies Group LLC's holdings in GE Vernova were worth $146,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jackson Grant Investment Advisers Inc. raised its stake in shares of GE Vernova by 344.4% during the third quarter. Jackson Grant Investment Advisers Inc. now owns 40 shares of the company's stock valued at $25,000 after purchasing an additional 31 shares in the last quarter. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the third quarter valued at about $25,000. Torren Management LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at about $26,000. ORG Wealth Partners LLC raised its stake in shares of GE Vernova by 241.7% during the fourth quarter. ORG Wealth Partners LLC now owns 41 shares of the company's stock valued at $27,000 after purchasing an additional 29 shares in the last quarter. Finally, Navalign LLC bought a new stake in shares of GE Vernova during the fourth quarter valued at about $27,000.

Wall Street Analyst Weigh In

GEV has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective on shares of GE Vernova from $965.00 to $1,350.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Mizuho set a $714.00 price objective on shares of GE Vernova in a research note on Tuesday, February 3rd. Erste Group Bank upgraded shares of GE Vernova to a "strong-buy" rating in a research note on Tuesday, March 24th. Guggenheim lifted their target price on GE Vernova from $910.00 to $1,300.00 and gave the stock a "buy" rating in a report on Thursday, April 23rd. Finally, Barclays lifted their target price on GE Vernova from $993.00 to $1,250.00 and gave the stock an "overweight" rating in a report on Thursday, April 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have given a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,090.76.

Insiders Place Their Bets

In related news, CAO Matthew Joseph Potvin sold 2,333 shares of GE Vernova stock in a transaction dated Thursday, May 14th. The stock was sold at an average price of $1,059.09, for a total value of $2,470,856.97. Following the transaction, the chief accounting officer owned 3,549 shares of the company's stock, valued at approximately $3,758,710.41. This trade represents a 39.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.21% of the company's stock.

GE Vernova Price Performance

NYSE:GEV opened at $1,039.71 on Friday. The business's 50-day moving average price is $978.06 and its 200 day moving average price is $790.29. The firm has a market cap of $279.39 billion, a P/E ratio of 30.29, a PEG ratio of 3.91 and a beta of 1.51. GE Vernova Inc. has a 52-week low of $458.65 and a 52-week high of $1,181.95. The company has a quick ratio of 0.65, a current ratio of 0.89 and a debt-to-equity ratio of 0.19.

GE Vernova (NYSE:GEV - Get Free Report) last released its earnings results on Wednesday, April 22nd. The company reported $17.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.95 by $15.49. The firm had revenue of $9.34 billion for the quarter, compared to analyst estimates of $9.19 billion. GE Vernova had a return on equity of 43.97% and a net margin of 23.81%.GE Vernova's revenue was up 17.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.91 earnings per share. As a group, sell-side analysts predict that GE Vernova Inc. will post 14.84 earnings per share for the current fiscal year.

GE Vernova Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 14th. Investors of record on Tuesday, June 16th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Tuesday, June 16th. This represents a $2.00 dividend on an annualized basis and a yield of 0.2%. GE Vernova's dividend payout ratio (DPR) is currently 5.83%.

GE Vernova Company Profile

GE Vernova is the energy-focused company formed from the energy businesses of General Electric and operates as a publicly listed entity on the NYSE under the ticker GEV. It is organized to design, manufacture and service equipment and systems used across the power generation and energy transition value chain, bringing together legacy capabilities in conventional power, renewables and grid technologies under a single corporate platform.

The company’s offerings span large-scale power-generation equipment such as gas and steam turbines and associated generators and controls, as well as renewable energy technologies including onshore and offshore wind platforms and hydro solutions.

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